Ferrari N.V. (NYSE/MTA: RACE) informs that its fully owned subsidiary Ferrari S.p.A. has signed the advance agreement with the
Italian Revenue Agency to access the Patent Box tax relief.
The Italian Patent Box regime provides for a tax relief for a five-year period from 2015 to 2019. The estimated
tax benefit for the three-year period 2015-2017, is approximately equal to Euro 139 million and it will be fully reflected in the
Group’s Q3 2018 results as previous years income tax adjustment. The tax benefits for 2018 and 2019 will be quantified and
disclosed in the Group financial statements of such respective years.
The Patent Box represents a tax relief regime for the benefit of companies generating income through the direct
and indirect use of copyrights, patents, trademarks, designs and know-how; the benefit is determined by excluding from the taxable
income of each fiscal year a certain percentage of the income attributable to the use of intangible assets: such percentage amounts
to 30% with reference to fiscal year 2015, to 40% with respect to year 2016 and to 50% for the three-year period 2017-2019.
